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Tex. Est. Code § 113.104

OWNERSHIP OF TRUST ACCOUNT DURING TRUSTEE'S LIFETIME

Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff

(a) A trust account belongs beneficially to the trustee during the trustee's lifetime unless:

(1) the terms of the account or the deposit agreement manifest a contrary intent; or

(2) other clear and convincing evidence of an irrevocable trust exists.

(b) If two or more parties are named as trustees on a trust account, during the parties' lifetimes beneficial rights between the parties are governed by Section 113.102.

(c) An account that is an irrevocable trust belongs beneficially to the beneficiary.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.